COMPUTE THE FOLLOWING:

1. Average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)

2. Inventory turnover. (Round your answer to 2 decimal places.)

3. Average sale period. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 1 decimal place.)

4. Times interest earned ratio. (Round your answer to 2 decimal places.)

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 240$ 370 420 340 20 1,150 1,460 $2,330 $2,610 400 370 20 1,030 1,300 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 340 $ 370 50 40 460 585 ?, 045 Accounts payable Accrued liabilities 50 40 430 Notes payable, short term Total current liabilities Bonds payable Total 1iabilities Stockholders' equity: 760 Common stock, $2 par value Additional paid-in capital Retained earnings 200 330 1,040 1,570 200 330 1,035 1,565 330 $2,610 Total stockholders' equity Total liabilities&stockholders' equity $2, Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $1,600 1,030 570 515 20 35 $ 24 Dividends on common stock during Year 2 totaled $19 thousand. The market price of common stock at the end of Year 2 was $3.00 per share